Opposition to the airport was formalized in 2001 in the Air Air Voluntary Association (Airport Impact Review) under the leadership of activist and former City Councillor Allan Sparrow. It was created by local residents to oppose the expansion due to increased air and noise pollution, safety concerns and increased air traffic, which will hamper recent government initiatives to rejuvenate Toronto`s waterfront.  In July 2001, at a press conference with representatives of the Sierra Club, the David Suzuki Foundation and the Toronto Environmental Alliance, the group proposed to transform the 81-hectare airport into parkland.  Community Air has been and is supported by local councillors. An amendment requires a written agreement signed by all three parties. In January 1975, Otonabee Airways launched the first scheduled air service at the airport. Otonabee operated three times a day service between the island`s airport and Montreal International Airport.  In 1975, the island`s airport was also used as a base for Olga, a Sikorsky S-64 Skycrane helicopter, used to dismantle the crane of the new CN tower and mount parts of its new antenna on the concrete tower.  Until 1974, the airport`s annual operating deficit had reached $300,000 per year ($1.53 million in 2018) , including $130,000 in the Maple City ferry operation.  The City of Toronto has decided to ask the Government of Ontario and the Government of Canada to cover the deficit. According to a study conducted by the governments of Toronto, Metro, Ontario and Canada, the Canadian government has agreed to provide an annual grant to the Port Commission for the operation of the airport, while the Ontario government has agreed to cover the costs of the airport ferry.  The Canadian government has provided a precondition for the grant to reach an intergovernmental agreement on the future of the airport.
The agreement on the future of the airport would take several years. In 2019, the airport was ranked 124th in the world and worst in Canada by AirHelp, which based its rankings on punctual performance, quality of service and food and stores. The one-time performance was assessed at only 5.8/10, while the airport received 8.1/10 for service and 7.0/10 for food and service.  The airport operates a fire and rescue service to deal with emergencies at the airport. The current aircraft at the airport consists: In 1973, de Havilland proposed Aircraft of Canada, manufacturer of the new STOL DHC-7 (Dash 7) aircraft, a network of STOL airports around Ontario with The Island Airport as a hub for the Ontario government cabinet minister and the Minister of the Cabinet of the Government of Canada. Early versions of the Dash 7 could support flights from the island to smaller centres such as Sarnia, Kingston, Peterborough and Owen Sound, with a larger version that could help flights to larger centres such as London, North Bay, Ottawa and Windsor.